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How to create and use payment plans in Alleva Billing.
Payment plans allow you to keep track of a patient's progress in paying off an outstanding balance. Alleva Billing allows you to easily calculate installment amounts and dates in order to meet your goals.
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To create a new payment plan, follow these steps:
1. Go to Payment Management > Payment Plans, and click "Add New Payment Plan".
2. Search for and select the client, select the facility/location, enter the total dollar amount, and the collection type. (The collection types include "Manual" and "Nexio" if you have the Nexio payment processing integration).
3. In the Installment Calculator section, enter a start date for the payment plan. Then enter the "Payment Due Every" and "Payment Frequency" fields. This determines when the payments will be due.
4. Select an option in the "Installment Criteria" dropdown. There are three options for calculating the installment amount for each payment:
- Amount Per Payment - This allows you to enter the exact amount you would like the client to pay per payment. The system will calculate the total number of payments based on this fixed amount.
- Total Number of Payments - Enter the total number of payments you would like the client to make and the system will calculate the installment amount for each payment based on the total amount of the payment plan divided by the number of payments.
- Installment End Date - Enter the desired end date for the payment plan. Based on the start date, end date, and "payment due every" fields, the system will calculate the amount for each installment.
Once the installment amounts and dates are generated, they will appear in a table like this:
To post a payment as part of a payment plan, follow these steps:
1. Navigate to the payment plan either in Payment Management or on the Patient Account.
2. Click the dropdown on the Payment Plan and see all previous payments as well as installments that are due and upcoming installments.
3. Select "Add Payment". This will open a patient transaction with a lot of information already filled out, including patient name, transaction type, payment date, and amount. Enter the payment type (cash, card, or check), and the reference number if needed.
4. Click "Allocate Payment" and the system will automatically allocate the payment to the outstanding services balances, in order from oldest to newest. You can edit the Payment Amounts if necessary, and then click "Post".
Done! The payment will now be visible in the Patient Transactions tab:
And will be visible in the updated Payment Plan:
